OGC - Oceana Gold

[roysolder]

i have told myself that(money banked)well i,ll pull if gold starts to fall or ogc not profitable.i,ve really been waiting for their Q2 at the end of this month.
i think i,ll pull at 130 as mentioned in previous posts.

bet its cold where you are this time of year

 

[berbouy]

thanks explod and roysolder for the thread on this stock-i see it has had a retrace in price, and not much comment on ogc for a while.hope you got out at the right time, or if still holding, that the 2nd quarter report was pleasing
as a noob, i am trying to read the fundamentals of ogc- the big number that stuck out to me was the size of debt, though production and future exploration seem to be on track-(cap raising done?)any (more experienced) analysis of the report or thoughts on ogc anyone?
do not hold-cheers!

 

[roysolder]

sorry berbouy,just saw your post-still holding.and just time will tell from here.
from what i,ve read on ogc i feel their dept may be clear by next year.good Q2 results out.some news on didipio would be good for a change
regards-roy

 

[explod]

sorry berbouy,just saw your post-still holding.and just time will tell from here.
from what i,ve read on ogc i feel their dept may be clear by next year.good Q2 results out.some news on didipio would be good for a change
regards-roy

Back into OGC today Roysoldier, my take is that gold price will support this now and the 1.dollar area seems good support.

 

[roysolder]

thanks explod,doing a bit of a sweat at the moment but i am of the same opinion too.hopefully gold up today(monday)again.
missed out on kml by .1 of a cent then they went into trading halt.
regards-roy

 

[So_Cynical]

i have told myself that(money banked)well i,ll pull if gold starts to fall or ogc not profitable.i,ve really been waiting for their Q2 at the end of this month.
i think i,ll pull at 130 as mentioned in previous posts.

Traded at a high of 1.33 today...first time above 1.30 since early June, so Roy did u bail or are u hanging on for more action. or god forbid did u sell out at the bottom of the last run. :dunno:

 

[bigdog]

Encouraging news for lT holders!!

http://www.oceanagold.com/images/documents/files/091110_macraes_updated_resources_ni_43-101.pdf

OCEANAGOLD ANNOUNCES A 42% INCREASE TO MINERAL RESOURCES AT MACRAES GOLDFIELD 1

Highlights
Updated Resource Estimate Delivers:
• an increase to the total Macraes Inferred Resource inventory of 1,291,000 ounces (129% increase)
• an 6% increase to the total Macraes Measured and Indicated Resource inventory of 153,000
ounces increasing it to 2,550,000 ounces

MELBOURNE) OceanaGold Corporation (ASX: OGC, TSX: OGC, NZX: OGC) (the “Company”) is pleased to announce an updated mineral resource estimate for the Macraes Goldfield located in the South Island of New Zealand.

The Macraes Mineral Resource Inventory, updated to June 30, 2009 has increased against the previous, December 31, 2008 inventory by 153,000 ounces of Measured and Indicated Resource and 1,291,000 ounces of Inferred Resource. The majority of these ounces can be attributed to the addition of the Round Hill resource to the inventory.

Paul Bibby, CEO commented, “This updated resource estimate has materially increased the resource base at Macraes and is an important step towards our objective of extending the mine life of the operations in New Zealand. The current brownfields exploration drilling program is active on a number of fronts, particularly Round Hill, where the drilling is focused on upgrading Inferred Resources to the Indicated category. This program will be completed this quarter and will allow us to undertake a study to examine expanding the mineable reserve.”

 

[Supra]

OGC: Kiwi's Do Fly

This has to be one of the better performing Gold stocks on the ASX!

Just look at the performance over the last couple of months.

Past performance may not indicate how well it will do in the future, but OGC has far from finished its run.

Some more drilling reports, due out soon, should keep the SP moving upward.

 

[ppanwar]

I can't believe i sold it at 1.30 and within weeks it touched 2 dollars

I thought, how much more gold can keep going up without a break, though it missed to see the bullish trend of this stock

 

[GumbyLearner]

Bought in about 4 weeks ago around 1.25
and sold yesterday for 1.84

Not a great profit, but a solid one!

 

[GoodCall]

Today, OGC.AX announced an upgrade of 617,000oz gold reserves for Macreas and Reefton operations in NZ. Compared to Dec. 2008, Macreas has an increase of approximately 495,000 ounces of mineral reserves and Reefton has an increase of approximately 122,000 ounces of mineral reserves.

From here:

The increased mineral reserves are reflective of an increase to the gold price assumptions used to
calculate reserves from US$500/oz to US$800/oz. A small contribution also came from resources at the
Panel 2 Deeps deposit (Macraes Project) that have been upgraded from the Inferred to Indicated category
following a diamond drilling program and subsequently put through an economic analysis.

The increased gold price and improved economics will result in an expansion of the Frasers North and
Frasers South Pit at the Macraes operation as well as an expansion of the Globe pit located at the Reefton
operation.

Paul Bibby, CEO commented, “The reserve increases at both the Macraes and Reefton operations is an
important milestone towards our objective of extending the mine life for our New Zealand operations. This
update is particularly pleasing because it reflects the first reserves to be calculated for the Panel 2 Deeps
deposit which was announced in April this year and is a deposit that remains open in three directions. The
brownfields exploration program embarked on in the September quarter has now been ramped up with
seven drills currently operating at our New Zealand mines.”

Table 1 below outlines the Macraes and Reefton updated reserves. This does not include allowance for
reserve depletion due to mining during FY2009 which is expected to total approximately 300,000 ounces
from Macraes and 100,000 ounces from Reefton. In accordance with Company practice, a final end of year
resource & reserve inventory calculation as at December 31, 2009 will be undertaken which will account for
reserve increases minus depletion during the year.

The stock is up approx. 5% today and I disclose that I hold it.

 

[GoodCall]

Oceana announced today a further increase in reserves at the Macraes mine in New Zealand. The additional reserves of 259,000 oz of gold are in addition to the previously announced additional reserves in December (see above ^) and bring the total reserves to 754,000 oz. It is estimated that this will extend the mine's life by at least 3 years to 2016.

link

The stock is up 9% this morning and I am still a holder of it.

 

[sven]

Me too, I hold it. The hedges are gone, in a few months.
The race has just begun.
This spring will be something extra.

 

[sven]

A big move is coming. I say this once again. A big move!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

[Who Dares Wins]

A big move is coming. I say this once again. A big move!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Well maybe today its come.

Today announced they have closed out remaining hedges and are officially now an unhedged producer.

 

[fb10]

Hi Guys,
new trader here.
Can someone please explain what it means when the stock is unhedged and now they can sell in the spot market.

Also, the price sky rocketed today in the morning and reached around 2.54 but then settled around 2.45 i think. if this annoucement today has anything to do with this price bolting to such a high does that mean it will continue like that or is it just a one off.
Reason for asking is i am trying to do a mental map of how much longer shud i hold this stock for.
cheers friends
fb

 

[Joe Blow]

A big move is coming. I say this once again. A big move!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Okay, I would like to take this opportunity to point out that this sort of post is exactly the type of post that I do not want to see here at ASF. Ever.

If Who Dares Wins had not quoted it this post would have been deleted in the blink of an eye had it been spotted by myself or a moderator. It is a classic, textbook example of a no content worthless ramp.

This is the sort of post that I would like ASF members to report so that they can be removed ASAP. It adds absolutely no value whatsoever.

 

[Sean K]

It is a classic, textbook example of a no content worthless ramp.

That is more than textbook Joe. That post needs to be gold plated and hung on the ASF head office wall of shame. An absolute classic!!

 

[JTLP]

To add substance to this thread again...

OGC closed out there hedgebook (announced to ASX 1/4/10) to become a completely unhedged produced. Market reacted very positively. It did cost them $71m US to do this (they had some absolute shockers in place) but now they stand to benefit by up to 200% in gold price sales achieved by selling into the spot market.

Wonder where this one will go now? I had it on the watchlist at 1.55 when it started moving up...

 

[So_Cynical]

Wonder where this one will go now? I had it on the watchlist at 1.55 when it started moving up...

I've had OGC on a watchlist since it was 3.40 its a very old watchlist watched it go to 19 cents and then watched while it broke 1.30 twice over the last 12 months and now recently above 2.70....its a hell of a 3 year price range.